Norbord has reported earnings of US$37m in the second quarter, as OSB shipments picked up 35% from the first quarter.
“All our operating mills ran full out this quarter and we benefited from the run-up in North American OSB prices,said Barrie Shineton, Norbord president and ceo.
The company’s North American OSB mills ran at 100% of their capacity in the second quarter compared to 85% in the first quarter. All of the European mills operated at full capacity compared to 90% in the previous three months.
In the UK, year-to-date housing starts improved more than 75% over last year, supporting stronger panel demand, while German house starts were up 3%. European OSB prices improved 14% quarter-on-quarter due to high plywood prices, lower US imports and stronger demand.
